Prime Advances definition

Prime Advances means Advances which bear interest at a rate based upon the Prime Rate.
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Prime Advances actual days/365 or 366 Paid on Quarterly Date (last Business Day of March, June, September, December)
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Prime Advances is changed to "Base Rate Advances, and (c) "Daily Floating LIBOR Advances" is changed to Daily Term SOFR Advances".
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Examples of Prime Advances in a sentence

  • Prime Advances shall continue as Prime Advances unless and until such Prime Advances are converted into LIBOR Advances.

  • The Advances may be Prime Advances, LIBOR Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.9 and 2.10.

  • In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal that would otherwise have been applied to repay the LIBOR Advances that would have been made by such Lender or the converted LIBOR Advances of such Lender shall instead be applied to repay the Prime Advances made by such Lender in lieu of, or resulting from the conversion of, such LIBOR Advances.

  • In such an event the rate of interest applicable to the Loan for the relevant Interest Period will be for LIBOR Advances, the aggregate of 3% and for Prime Advances, 1/2% and the cost (expressed as a per annum percentage) to the Lender from such financial sources and for periods as may be elected by the Lender.

  • Revolving Loans made pursuant to this Section 2.13 shall initially be Prime Advances and thereafter may be continued as Prime Advances or converted into LIBOR Advances in the manner provided in Section 2.10 and subject to the other conditions and limitations set forth in this Article II.

  • All Swing Line Loans shall be Floating Rate Advances (in the case of US Swing Line Loans) or Canadian Prime Advances (in the case of Canada Swing Line Loans).

  • Prime Advances (other than Swing Line Loans) shall continue as Prime Advances unless and until such Prime Advances are converted into LIBOR Advances.

  • The ratable Advances may be Prime Advances, LIBOR Advances, Fixed Rate Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.9 and 2.10.

  • The Borrower may convert any Prime Advances aggregating at least $1,000,000 in principal amount into a LIBOR Advance on the first day of a calendar month.

  • Prime Advances shall bear interest at the Prime Advance Rate until the earlier of the Maturity Date or the date on which each such Credit Advance is paid in full.

Related to Prime Advances

  • Revolving Advances means Advances made other than Letters of Credit.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Revolving Loans as defined in Section 2.4(a).

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.